Bono Hires Time Inc.’s Michael Elliot as CEO of ONE

Elliot says it's 'something I really believe in'

Time magazine deputy editor Michael Elliott is leaving his post for a new gig as CEO of the ONE Campaign, the foundation co-founded by U2 frontman (and supposed “worst investor in America”) Bono, which supports international aid programs.

Elliott, who had been with Time Inc. since 2001, was previously international editor of Time. “I loved every minute of my time at Time,” he said. “But I’m leaving for something I really believe in.”

Elliott is replacing ONE’s interim CEO Joshua Bolten. The last permanent foundation CEO, David Lane, left in January to join the Obama administration as assistant to the president and a counselor to Chief of Staff Bill Daley.